Just in time for the looming holiday season, Wealthsimple is now offering gift cards to give someone their kickstart in digital investing.
The Toronto-based financial digital advisor has introduced gift cards available to purchase and give to anyone who may want to take part in what Wealthsimple offers. The gift cards can be used to access Wealthsimple’s services, meaning access to an intelligent yet easy-to-use investment portfolio.
Wealthsimple takes investment funds (in the form of a gift card or regular money) and invests it in the entire stock market using exchange-traded funds that track the global economy. These investments are gauged based on answers to a few questions to cater to personal goals and risks.
The introduction of gift cards is a good fit for Wealthsimple as the advisor’s account minimum is $0 and the company charges a fraction of what traditional advisors may charge. To enter any other kind of investment market, a good portion of a $250 gift card may go towards fees, but not with Wealthsimple.
The gift cards are also a great way to introduce newcomers to investing in a safe and meaningful way.
“The point of our gift cards is to change a person’s financial trajectory,” Wealthsimple’s site reads. “And we think helping them open a low-cost, sophisticated portfolio that they can invest in for the rest of their lives—and helping them understand how saving a little now can make a huge difference later—is a good way to do that.”
Earlier this year Wealthsimple raised $50 million in funding from Power Financial, as well as launching in the U.K. The digital financial advisor has over 30,000 clients and $1 billion in assets under management.
The minimum amount for a gift card is $50. To begin gifting, head here.